Mhairi
March 3, 2022, 11:10am
1
This UMIP will add LUSD as approved collateral currencies. This will involve adding the currencies to the whitelist and
# Headers
| UMIP-86 | |
|------------|------------------------------------------------------------------------------------------------------------------------------------------|
| UMIP Title | Add LUSD as a supported collateral currency |
| Authors | Ramy Melo (Ramysmelo@gmail.com) |
| Status | Approved |
| Created | April 22, 2021 |
| Discourse Link | https://discourse.uma.xyz/t/add-lusd-collateral-support-to-dvm/929 |
## Summary (2-5 sentences)
This UMIP will add LUSD as approved collateral currencies. This will involve adding the currencies to the whitelist and
adding a flat final fee to charge per-request. The proposed final fee is 400 LUSD per request.
## Motivation
LUSD is a fully redeemable USD-pegged stablecoin issued by the Liquity Protocol. Liquity is a decentralized borrowing
protocol that allows you to draw 0% interest loans against Ether used as collateral. Loans are paid out in LUSD and need
to maintain a minimum collateral ratio of only 110%.
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